Stocks to buy or sell: The Indian stock market closed the week in negative territory as elevated crude oil prices, renewed geopolitical concerns and mixed global signals dampened investor sentiment. Volatility remained high as investors assessed the final phase of the Q1 FY27 earnings season and gauged the potential impact of rising energy costs on inflation, the rupee and corporate margins.
During the week, the Sensex slipped 0.62% to end at 78,009.25, while the Nifty declined 0.83% to settle at 24,366. The broader market delivered a mixed performance, with the MidCap index advancing 0.50%, whereas the SmallCap index fell 0.66%.
Stock market next week
Nifty 50
Nifty 50 ended the session at 24,366, down 29.85 points (-0.12%), after opening at 24,361.90, while touching an intraday high of 24,405.20 and a low of 24,296.80. The index experienced a range-bound yet volatile session, with price action oscillating within a narrow band and lacking sustained directional momentum. Buying interest emerged near the lower levels, while the index faced selling pressure around the higher end of the intraday range. The daily candle formed a bullish Doji, reflecting indecisiveness between buyers and sellers.
On the Nifty 50 outlook, Sumeet Bagadia, Executive Director at Choice Broking, said, “From a technical perspective, Nifty continues to maintain a Sideways bias, with the index likely to remain range-bound until a decisive breakout occurs on either side. Immediate support is placed at 24,200–24,250, while 24,500–24,550 remains the key resistance zone. A sustained move above the resistance could strengthen buying momentum and open the door for further upside, whereas a break below support may intensify corrective pressure. The expected trading range for the next session is 24,200–24,550.”
Bank Nifty
Bank Nifty ended the session on a weak note, closing at 57,491.10, down 144.10 points (-0.25%) after opening at 57,589, with an intraday high of 57,681.45 and low of 57,380.45. The index remained volatile during the session, with early weakness followed by a recovery attempt in the second half, but selling pressure resurfaced towards the close. The daily chart formed a bearish red candle and closed below the 20-Day EMA, indicating some deterioration in the short-term setup. The 5-minute chart also reflected profit booking from the higher levels, keeping the intraday structure cautious.
Meanwhile, on the Bank Nifty outlook, Bagadia added, “Technically, Bank Nifty is likely to maintain a Sideways bias unless a decisive breakout occurs from the broader trading zone. Immediate support is placed at 57,000–57,200, while 57,700–58,000 remains the key resistance area. Sustained strength above 58,000 could improve the momentum and open the way for further upside, whereas a break below 57,000 may intensify selling pressure. The expected trading range for the next session is 57,000–58,000.”
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, 17 August. The three stock picks by Bagadia are – U. Y. Fincorp, Morepen Laboratories, and Fineotex Chemical.
1] U. Y. Fincorp: Buy at ₹21.08 | Target Price: ₹22.7 | Stop Loss: ₹20
2] Morepen Laboratories: Buy at ₹84.19 | Target Price: ₹91.5 | Stop Loss: ₹78.5
3] Fineotex Chemical: Buy at ₹43.36 | Target Price: ₹47.3 | Stop Loss: ₹40.78
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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